India's Warren Buffett.
This Blog will give you all the news related to the stocks held by Rakesh Jhunjhunwala.

Please read the DISCLAIMER at the bottom of the blog.

Rakesh Jhunjhunwala is considered to be the greatest investor in Indian Market. He is supposed to have made Rs 5000 crores by just investing Rs 5000 in Indian Stock Market. Rakesh Jhunjhunwala guru mantra to be successful in stock market is as enumerated below:

(a) He advises people to become interested in a stock when none is interested in the same stock. As per him BUY RIGHT & HOLD TIGHT for years to come. He has been holding few stocks for last 10 years and he is still minting money from those stocks.

(b) He further advises that one should not follow big investors blindly as their risk profile and long term goals with time frame may be difficult to be followed by retail investor.

(c) Market is supreme and every thing is reflected in the price and thus their is no point in fighting the trend as market is always right.

(d) One should be able to create a balance between the fear and greed.

(e) As per his words one has to learn the stock market trading as none can teach the market as stock market experience is the best teacher.

Thus follow Rakesh Jhunjhunwala advice in stock market, BE PATIENT and grow big like Warren Buffet or this iconic man from Dalaal Street.

If you subscribe to this blog with your email, you will get the post right in your INBOX moment it is posted on this blog. Do remember to activate the subscription in your email. GOOD LUCK.

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Friday, January 30, 2009

Domestic steel producer Bhushan Steel( No More Part of Rakesh Jhunjhunwala portfolio) is looking to acquire controlling stake in Orissa Sponge Iron and Steel with an aim to further expand its business in the coastal state.The company had yesterday bought an additional 9.5 per cent stake in Orissa Sponge Iron through its sister firm Bhushan Energy for Rs 22.30 crore from the Unitech&aposs promoter group firm Prakausali Investments, which held 12.11 per cent stake in Orissa Sponge.

Given an opportunity, Bushan Steel is likely to buy controlling stake in that company. The company now holds nearly 15 per cent stake in the Orissa-based firm. Earlier Bushan Steel had 5.35 per cent stake in the Orissa Sponge and Iron, and now they have bought additional 9.5 per cent at the market price.

However, Bhushan Steel may acquire more shares through block deal from Unitech&aposs promoter group firm. It bought 19 lakh shares from Prakausali Investments, which has nearly 36 per cent stake in country&aposs second largest realty firm Unitech.

Bhushan Steel at present has a steel mill with an annual production capacity of about 1 million tonnes per annum (MTPA) in Orissa. The firm is expanding the facility to 5 MTPA by 2012 at an approximate investment of Rs 15,000 crore.

As per Sep 08 share holding pattern, Rakesh Jhunjhunwala was holding 8,20,000 shares of Bhushan Steel but as per Dec 08 shareholding pattern , he has sold of his stake in Bhushan Steel.

It took the filmmakers of Chandni Chowk To China and the Prime Focus ( Part of Rakesh Jhunjhunwala Holdings) team one and a half years to complete work on all the 1000 shots in the film. VFX supervisor and creative director, Prime Focus, Merzin Tavaria details

Chandini Chowk To China is being the first Warner Brothers film in Hindi. How different is it from the others?

Chandini Chowk To China (CC2C) was very special to us, as it the first Bollywood film to be distributed by Warner Bros and the first Indian production to be shot in China. The movie is the first film in Indian VFX history to follow the correct process of being broken down scene-by-scene almost six months before the VFX work began. With over 1000 VFX shots to deliver in a two-month timeframe, the movie was worked on by around 150 artists spread across India, with shots and sequences being delivered simultaneously by Prime Focus artists in Mumbai, Hyderabad, Chennai and Goa.

What went into the planning stages of the movie? What brief did you receive from the director?

To achieve the quality and quantity of visual effects within the timeframe this film required a lot of planning. Our primary task was to make every sequence as realistic as possible. As I mentioned, we started planning for the movie with director Nikhil Advani, well before the movie was shot. We were able to come up with solutions and suggestions to make the shots better. Normally, people shoot the film and then send it for post-production. CC2C, however, was planned in the right way, breaking up the story scene-by-scene.

How different are the VFX in Chandni Chowk To China?

The kind of VFX shots in the movie are very varied. There were some scenes which required a “hyper-real” style (realistic looking but improbable shots) which we developed with the director. In one song sequence, the lead actors jump off a building in Shanghai and fly through the sky with the Shanghai skyline behind them. For this shot to work, we had to build the entire skyline in 3D, which was a complex task. We worked tirelessly to ensure that we were able to deliver on he director’s brief and we greatly appreciate the support we received from him.

Give us an account of some of the important shots in the movie.

The opening of the film has a shot of outer space as we descend to Earth and start seeing the Great Wall of China. This is a very realistic shot and had to be totally believable. Followed by that, is a shot where we travel from a bird’s eye view over New Delhi to Rajpath and India Gate. This is a part of the story telling process and had to be an invisible effect.

In the climax Akshay is supposed to move so fast that he builds up a dust storm around him. This was a fun sequence, as it’s all in the real space but it’s that little-extra which makes it hyper real.

Then, a nice little touch from Nikhil was of having an angel and devil as alter-egos of Ranvir Shorey, who appear on the actor’s shoulders everytime he is scheming. The end result has turned out very nice. The miniature shoot of the characters was quite an experience. They were shot to scale in an indoor studio and we composited them live on set to show the director, the complete effect of the performance. Besides this, being an action film there were loads of wire removal and other clean up jobs. There were quite a few compositing shots as well that are totally seamless. A lot of the work gone into the film will be totally invisible.

Tell us about the production schedule and the team involved.

The production kicked off more than four months before release but the bulk of the work after edit lock only started coming two months before release. That’s when we were hit by more than 800 shots. Close to 150 artists have worked on this at one point or the other, as all shots and sequences had to be delivered simultaneously.

Tell us about the challenges you faced while working on the movie?

The challenges as in any big VFX-heavy film is always that you may be doing quite a few things for the very first time. But that’s the thrill of it. Perhaps the most challenging sequence in the movie for Prime Focus was a jetty fight sequence, which sees the main character using a special Kung-fu move called the “Cosmic Kick”.

This causes a huge tidal wave to shoot up out of the water to more than 100 feet in the air - all created by the Prime Focus CG experts. This was a very challenging sequence, involving some complex particle dynamics. We are very happy with what we achieved here and think that the end result speaks for itself.

As per Dec08 share holding pattern of the PRIME FOCUS, Rakesh Jhunjhunwala continues to hold 2,50.000 and 6,32,500 shares in the name of Jhunjhunwala Rakesh Radheshyam and Jhunjhunwala Rekha Rakesh.

BNP Paribas, a European leader in global banking and financial services, increased its stake in Geojit Financial Services Ltd. (Part of Rakesh jhunjhunwala Holdings)— the joint venture partner of the UAE-based Barjeel Geojit Securities — to 34.33 per cent from its initial stake of 27.18 per cent in March 2007.

It would strengthen Geojit’s presence in the Gulf through new strategic business associations.

Geojit had allotted 13.9 million shares to BNP Paribas S.A. consequent to the exercise of warrants issued to the bank in March 2007 when the bank initially took a 27.18 per cent stake in Geojit Financial Services Ltd. The share allotment was done at a meeting of the Committee of the Board of Directors of Geojit last week.

Geojit, which has a network of over 500 branches and more than Rs5.4 billion in assets under management, first established its presence in the Gulf in the year 2001. This was the year when Geojit first entered the Gulf retail financial services market through Barjeel Geojit Securities, its joint venture with the Al Saud group in UAE with a license from Central Bank of UAE for international securities.

Currently, the company operates through its branches in Dubai, Abu Dhabi, Ras Al Khaimah, Sharjah and Muscat. New branches will shortly start in Fujairah and Al Ain.

Aloula Geojit Brokerage Company, Geojit’s other joint venture in the Gulf is with the Al Johar group in Saudi Arabia.

This joint venture in which Geojit is the single largest stakeholder recently started operations in the Saudi stock market after taking membership in Tadawul and getting approval from CMA. Geojit’s business association with the Bank of Bahrain and Kuwait provides the Bank’s NRI clients the opportunity to diversify their holdings through investments in the Indian stock market.

Saturday, January 24, 2009

Praj Industries (Pune, India) ( Part of Rakesh Jhunjhunwala Holdings) will work with a consortium of leading United Kingdom based companies to construct one of the largest bio-ethanol plants in Europe. The consortium formed by BP plc , Associated British Foods plc and Dupont will use the globally recognized technology developed by Praj Industries to convert feedstock, including sugar beets and wheat, to produce ethanol.

As per Dec 08 share holding pattern of Praj, Rakesh Jhunjhunwala is holding 11,478,624 shares in his name and 4,048,000 shares in his wife's name Rekha Jhunjhunwala.

French bank BNP Paribas has substantially increased its stake in broking firm Geojit Financial Services ( Part of Rakesh Jhunjhunwala Holdings) after conversion of 1.4 crore warrants issued to the former on preferential basis on March 13 '07.

The warrants have been converted at a price of Rs 26 per share against Thursday's closing price of Rs 23.2. Geojit shares were quoting flat at Rs 23 at 1 p.m. on Friday.

The company, however, did not disclose the shareholding of the promoter after conversion of the warrants. BNP Paribas held 27.1% stake in Geojit Financial Services, according to shareholding pattern as on December 31 '08 filed with the BSE.

Post conversion of the warrants, the French bank's stake is expected to have gone up to 32% of the equity capital. In July '07, Geojit Financial Services entered into 50:50 joint venture with BNP Paribas Securities Asia to offer services to foreign institutional clients in India. Subsequently, the foreign investor approached Sebi to seek regulatory approvals for an open offer. While the offer was originally slated to open in May '07, it, however, has been delayed because RBI did not approve the same on the ground that Geojit also was into commodities business.

The Indian broking firm has already exited commodities, subsequent to which BNP Paribas floated the open offer. According to the revised schedule, the offer opened on December 22 '08 and closed on January 10 '09. The post open offer shareholding of BNP Paribas could not be known.

Geojit Financial Services Ltd ( Part of Rakesh Jhunjhunwala Holdings) has announced that the Committee of the Board of Directors of the Company, at its meeting held on January 23, 2009, has allotted 1,39,10,514 (One Crore Thirty Nine Lakh Ten Thousand Five Hundred and Fourteen Only) Equity Shares of Re 1 each to BNP Paribas S.A. upon conversion of equal number of Warrants which was issued on preferential basis on March 13, 2007 at a price of Rs 26 per Warrant.

The stock was trading at Rs.23.15, down by Rs.0.05 or 0.22%.

The stock hit an intraday high of Rs.23.30 and low of Rs.23.15.The total traded quantity was 12121 compared to 2 week average of 39484.

JB Chemicals & Pharmaceuticals ( Part of Rakesh Jhunjhunwala Portfolio) manufacturers of a wide range of innovative specialty medicines for the domestic and international markets, today disclosed a substantial rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 33.45% to Rs 142.40 million from Rs 106.71 million in the same quarter previous year.

Net sales for the quarter jumped 60.45% to Rs 2,230.54 million, while total income for the quarter jumped 51.94% to Rs 2,234.86 million, when compared with the prior year period.

The company posted earnings of Rs 1.69 a share during the quarter, registering 33.07% growth over prior year period.

During the quarter, the operating margin of the company increased by 758.05 basis points to 15.76% compared with the previous year period. Interest cost decreased 7.30% to Rs 35.55 million while depreciation cost rose 23.64% to Rs 51.25 million over previous year period.

Shares of the company gained Rs 0.25, or 0.68%, to settle at Rs 36.75. The total volume of shares traded was 169,919.00 at the BSE (Friday).

As per Dec 08 share holding pattern of JB Chemical, Rakesh Jhunjhunwala has increased his holding from 1,081,650 shares in the name of Jhunjhunwala Rakesh Radheshyam to 1,251,650 shares.

Punj Lloyd ( Part of rakesh Jhunjhunwala Holdings), a leading engineering and construction company has posted a consolidated net loss after minority interest and share of profits of associates at Rs 2,256.20 million for the quarter ended Dec. 31, 2008 as compared to net profit after minority interest and share of profits of associates of Rs 917.20 million for the quarter ended Dec. 31, 2007.

The company reported an increase of 47.37% in consolidated sales to Rs 31,199.7 million for quarter ended Dec. 31,08 as against previous year sales of Rs 21,170.4 million in quarter ended Dec.31, 2007.

The company reported a phenomenal rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 2.28 times to Rs 893.30 million from Rs 391.60 million in the same quarter previous year.

Net sales for the quarter surged 45.58% to Rs 18,106.80 million, while total income for the quarter jumped 43.95% to Rs 18,111.20 million, when compared with the prior year period.

During the quarter, interest cost increased 2.40 times to Rs 573 million while depreciation cost fell 1.39% to Rs 290.20 million over previous year period.

Commenting on the results, Atul Punj, chairman, Punj Lloyd (Q, N,C,F)* Group, ``Despite a difficult macro environment, I am happy to report encouraging growth in the volume of business and operating levels. The results were adversely impacted owing to provisions made in one of the long term contract and volatilities in currencies. We have won prestigious contracts from Cairn Energy India Limited and Housing and Infrastructure Board (HIB) of Tripoli which demonstrates the reputation of the Group and its capabilities in executing unique and challenging projects both in India but also abroad. We also bagged orders from Municipal Corporation of Delhi and Airports Authority of India. `` He further added, ``Our focus continues to be on expanding the order book with high profile credentials and ensuring that the order inflow is higher than the order burn out. Our global business presence and diversified business model gives us the confidence to maintain a robust outlook of our performance even when there is a slowdown in some geographies. ``

As on Dec.31, 08, Punj Lloyd Group had an order book backlog of Rs. 219.08 billion.

As per Dec 08 share holding pattern of the company, there is no change in the share holding of Rakesh Jhunjhunwala in Punj Lloyd. He continues to hold 5,040,000 shares

Punj Lloyd Ltd (Part of Rakeh Jhunjhunwala Holdings) has announced the Unaudited financial results for the quarter ended December 31, 2008. The Company has posted a net profit of Rs 893.30 million for the quarter ended December 31, 2008 as compared to Rs 391.60 million for the quarter ended December 31, 2007. Total Income has increased from Rs 12582.00 million for the quarter ended December 31, 2007 to Rs 18111.20 million for the quarter ended December 31, 2008.

The consolidated results for the Quarter ended December 31, 2008 - The Group has posted a net loss after minority interest and Share of Profits of Associates of Rs (2256.20) million for the quarter ended December 31, 2008 as compared to net profit after minority interest and Share of Profits of Associates of Rs 917.20 million for the quarter ended December 31, 2007. Total Income has increased from Rs 21629.30 million for the quarter ended December 31, 2007 to Rs 31436.80 million for the quarter ended December 31, 2008.

The stock closed the day at Rs.92.30, down by Rs.3 or 3.15%. The stock hit an intraday high of Rs.97.50 and low of Rs.91.15.

As per Dec 08 share holding pattern of the company, there is no change in the share holding of Rakesh Jhunjhunwala in Punj Lloyd. He continues to hold 5,040,000 shares

Wednesday, January 21, 2009

Amid the slowdown gloom Radio One, the joint venture between Mid-Day Multimedia ( Part of Rakesh Jhunjhunwala Holdings) and BBC Worldwide, has something to cheer about. The FM player has reported a 72 per cent growth in revenues for the period April to December 2008 as it declared its Q3 results on January 20, 2009.

The company’s PBT operations (before license fee) for April to December 31, 2008 period is positive and has grown by 108 per cent over the corresponding period last year. Radio One has reported a 49 per cent growth in Q3 FY09, as compared to the corresponding quarter of the previous fiscal. In comparison, the radio industry has dipped 6 per cent in the six metro cities in Q3, according to the company.

Commenting on the Q3 results, Vineet Singh Hukmani, CEO, Radio One, said, “Despite a great H1 and the subsequent slowdown in Q3 in the industry this year, we have maintained our performance from Q2 to Q3, essentially due to focus on targeted listenership, efficiency pricing and stringent cost control. Our new stations – Ahmedabad, Pune and Kolkata – operate efficiently with an average of less than 14 people each, and our all India costs are lower than the industry average by 39 per cent. Our all India headcount in seven cities is 144 people against the industry average of 235-250 people across seven metro cities. Our marketing and advertising costs are not even 20 per cent of the industry average.”

On the future of the radio industry, Hukmani said, “Performance of radio companies would have improved drastically, but recession is driving rates of all media down (led by print), as everyone is chasing outlays and not rates. Even stations that are ranked high in RAM have gone into survival mode and have cut their rates drastically, thereby allowing an irreversible commoditisation of the industry. This commoditisation further nullifies their past and present expenditure on brand building. The cost of music continues to be very high, which further restricts PBT growth. The I&B Ministry has to wake up to the genuine requests made by the AROI for support on these fronts, especially on extension of license fee period from 10 years to 15 years. No player would be looking at getting into Phase III if these Phase II problems prevail. 2009 is the year that the I&B Ministry will make or break the radio industry.”

Radio One is positioned as a metro specialist and operates in seven cities – Mumbai, Delhi, Bangalore, Chennai, Pune, Ahmedabad, and Kolkata, where it launched in December 2008 to complete its metro footprint.

As per Sep 08 share holding pattern of Mid-Day, Rakesh Jhunjhunwala is holding 22,50,000 shares of the company

3QFY09 results of Geometric ( Part of Rakesh Jhunjhunwala Holdings) were encouraging on an operational basis withrevenue growth in line with expectations and margins improving ahead ofestimates. However a forex loss of Rs.189mn crunched the PAT line that camein below estimates. While the company has faced no impact of sub-prime as it has no exposure tothe BFSI segment, its focus area of operation (manufacturing, auto andallied industries) continues to face a challenging macro environment. As expected smaller IT companies continue to face delays in decision makingimpacting sales cycles and the business environment negatively. This ispossibly evidenced in the value of new business added at $5.4mn, which waslower than our expectations. Lower client additions and drop out of smaller clients also point too anuncertain and challenging macro environment. We retain our negative bias for the stock and continue to adopt a cautiousapproach given headwinds of a uncertain demand environment in the US forGeometrics key target verticals- auto OEMs and manufacturing. MaintainREDUCE with a price target of Rs.27 (Rs.36 earlier).

Rakesh Jhunjhunwala added 6,80,000 shares of Geometric in Dec 08 Qtr. 4,80,000 shares were added in the name of Jhunjhunwala Rakesh Radheshyam and 2,00,000 shares were added in the name of his wife, Rekha Jhunjhunwala. Now his total holding in Geometric Ltd goes up to 38,65,000 shares.

Tuesday, January 20, 2009

Pantaloon Retail ( Part of Rakesh Jhunjhunwala Holdings) is faced with its biggest challenge in the interim term; namely weak same store sales. However, with consumption expenditure likely to remain strong at around 12 per cent in nominal terms, given the fall in interest rates, an increase in government spending, pay hikes and indirect tax cuts, there still remains structural opportunity for organised retail to thrive.

For Pantaloon, although value retailing segment (72 per cent of standalone sales) has been fairly insulated, the home improvements and lifestyle segments witnessed initial signs of slowdown in off take. Overall EBITDA margin would remain at around 9.2 per cent due to rationalisation of employee costs and renegotiations of existing/new rental contracts. While there is limited scope in fashion segment, the foods business has immense opportunity for driving owned brands across the FMCG landscape. Management expects breakeven of operations in FY09E and reported profits by FY10E.

The earnings in the next 2-3 quarters would continue to remain weak in view of near-term concerns, but provides an investment opportunity in the long-term. The brokerage has reduced its sum-of-the-parts based target price from Rs 282 to Rs 232 due to cut in earnings for standalone retail operations and valuation of subsidiaries.

Mumbai-based Geometric Limited ( Part of Rakesh Jhunjhunwala Holdings) has reported a decline in its profit after tax (before prior period adjustments) from Rs 47.16 million to Rs 18.27 million sequentially on account of foreign exchange losses of Rs 189.32 million, including a provision on Rs 21.97 million towards possible future currency losses, for the quarter ended 31 December 2008.

During Q3, the company’s operating revenues increased 31.6 per cent YoY and 6.9 per cent sequentially to Rs 1,630.78 million. The operating profits of the company more than tripled to Rs 242.00 million as compared to operating profits of Rs 75.59 million in Q3 FY08. In sequential terms, the operating profits increased 76.7 per cent from Rs 136.46 million in Q2 FY09.

Commenting on the results, Dr Ravi Gopinath, managing director and CEO, Geometric Limited, said, “The external environment, particularly the global manufacturing sector, continues to pose challenges. While we ride this period out, we have focussed our efforts on improving operating efficiencies. This has manifested itself in improvements in contribution and SG&A, resulting in operating profit improvements, beyond those realised from a favourable exchange rate.”

Geometric added seven new customers during Q3, taking the total number of active customers to 123. Total value of new business closed in Q3 was $5.4 million.

Rakesh Jhunjhunwala added 6,80,000 shares of Geometric in Dec 08 Qtr. 4,80,000 shares were added in the name of Jhunjhunwala Rakesh Radheshyam and 2,00,000 shares were added in the name of his wife, Rekha Jhunjhunwala. Now his total holding in Geometric Ltd goes up to 38,65,000 shares.

For 12 months (01 Apr 07 to 31 Mar 08 ) Company's Total Income was Rs 28.274 and Orders on hand as on December 31, 2008 stands at Rs 64.29 crores as against Rs 8.97 crores on December 31, 2007.

The Company operates in only one segment, i.e., simulation.

The amount of Rs 12.6225 crores raised through Preferential allotment has been utilised fully towards building of new facility at Hyderabad and Himachal Pradesh and New Products development, as on December 31, 2008.

Geometric Ltd's ( Part of Rakesh Jhunjhunwala Holdings) operating revenue has increased 31 6 per cent year on year and 69 per cent sequentially to Rs 1,630.78 million ($33.31 million).

The operating profit of the company more than tripled to Rs 242 million compared to the operatIng profit of Rs.75.59 million inQ3 FY08. In sequential terms, the operating profit increased 76.7 per cent from Rs.136.46 million in Q2EYO9.

The company reported a decline in PAT (before prior period adustments) from Rs.47.16 million to Rs.18.27 million sequentially on account of foreign exchange losses of Rs.189.32 million, including a provision on Rs.21.97 million towards possible future currency losss.

Geometric is a leading provider of Engineering Services and Product Lifecycle Management (PLM) solutions and technologies.

Shares of the company were down 4 per cent at Rs 19.35 on the NSE.

Rakesh Jhunjhunwala added 6,80,000 shares of Geometric in Dec 08 Qtr. 4,80,000 shares were added in the name of Jhunjhunwala Rakesh Radheshyam and 2,00,000 shares were added in the name of his wife, Rekha Jhunjhunwala. Now his total holding in Geometric Ltd goes up to 38,65,000 shares.

Sunday, January 18, 2009

GE Hitachi Nuclear Energy expects to get orders for six to eight nuclear power reactors in India, with total capacity of up to about 9,000 megawatts, once state-run nuclear firms put out orders to build reactors.

GE-Hitachi Nuclear Energy, a joint venture between U.S conglomerate General Electric Co and Japan’s Hitachi could supply its advanced boiling water reactors (ABWR) once regulatory hurdles are cleared.

India signed a nuclear pact with the U.S. last year, giving New Delhi access to civilian nuclear fuel and technology on the international market for the first time in three decades. This is to be used mainly for generating electricity for its power-starved economy, which faces shortage of up to 16 percent at peak hours.

Titan Industries ( Part of Rakesh Jhunjhunwala Holdings), the leading manufacturer and retailer of watches and jewellery had targetted to reach a total business turnover of Rs 4,000 crore in this financial year.

Titan Launched 254th 'World of Titan' showroom in the country. Company had recorded business turnover of Rs 3,100 crore and a net profit of Rs 750 crore during 2007-08. The company aims at achieving 30 per cent increase in both business turnover and net profit from its three divisions of watches, Jewellery and Prescription Eyewear Titan Eye.

The company which would celebrate its Silver Jubilee Year next year, had targetted to add another 50 'World of Titan' showrooms by the end of March this year. Bangalore had the highest number of 23 'World of Titan' showrooms. The company had 118 jewellery showrooms, 30 Gold Palace and 50 Eye showrooms.

Titan was the fifth largest watch manufacturing company in the world after Citizen, Casio and Timex, USA. The watch division had a domestic market share of over 70 per cent of the organised market.

Titan Industries also has plans to open 300 retail stores for its 'Titan Eye' in the next three years across the country. The company would add another 20 exclusive optical showrooms in the current fiscal and thus this year the number would go up to 60 stores. As the current Indian prescription eyewear market was "sizeable" with nearly 30 per cent of the population requiring vision correction, the company was eyeing a substantial market, with Rs 50 crore in 2009-10 and Rs 300 crore to Rs 500 crore in the third year.

As per Dec 08 share holding Pattern of Titan Industries, Rakesh Jhunjhunwala has added 19888 shares of TITAN in the name of Jhunjhunwala Rakesh Radheshyam ( Now holds 2,600,950) and 1,44,112 shares in the name of Jhunjhunwala Rekha Rakesh ( Now holds 1,113,806). Rakesh Jhunjhunwala now holds 8.37% equity if Titan Industries.

Friday, January 16, 2009

Prime Focus ( Part of Rakesh Jhunjhunwala holdings), India’s leading integrated end-to-end post production and visual effects services house, has successfully delivered the post production and visual effects of the most anticipated movie of the year, Chandni Chowk to China (CC2C). Regarded as Bollywood’s first ever kung fu comedy, the movie is directed by Nikhil Advani and stars Akshay Kumar, Deepika Padukone, Hindi Cinema veteran Mithun Chakraborty and Hong Kong veteran Gordon Liu. Co-produced by Warner Bros, CC2C is the biggest internationally exposed film in the history of Indian cinema, the first Bollywood film to be distributed by Warner Bros and the first Indian production to be shot in China.

CC2C tells the tale of a poor cook who travels to China to become a kung fu hero and follows him on his epic journey from the bustling Chandni Chowk to China. The movie is the first film in Indian VFX history to follow the correct process of being broken down scene by scene almost 6 months before the VFX work began. With over 1000 VFX shots to deliver in a two month timeframe, the movie was worked on by around 150 artists spread across India, with shots and sequences being delivered simultaneously by Prime Focus artists in Mumbai, Hyderabad, Chennai and Goa.

This movie required a lot of planning to achieve the quality and quantity of visual effects within the timeframe. Task was to make every sequence as realistic as possible. Then there were some scenes which required a “hyper-real” style which we developed with the director. In one song sequence, the lead actors jump off a building in Shanghai and fly through the sky with the Shanghai skyline behind them. For this shot to work, Prime Focus had to build the entire skyline in 3D, which was a complex task.

Perhaps the most challenging sequence in the movie for Prime Focus was a jetty fight sequence, which sees the main character using a special Kungfu move called the “Cosmic Kick”. This causes a huge tidal wave to shoot up out of the water to more than 100 feet in the air - all created by the Prime Focus CG experts.

Warner Bros. movies have been consistently acclaimed for their creative content, technically superior execution and strong viewer connect. The movie needed an international feel to it, with world class visuals. Prime Focus played a pivotal role in creating very real visuals and was able to meet the multifarious and complex requirements that the script demanded.

In recent years, the Indian entertainment industry has been evolving in terms of its finance, production and distribution infrastructures, moving ever closer to the Hollywood model. Chandni Chowk to China is a great example of this evolution and with Prime Focus’ world class contribution, this film is destined to create magic with audiences the world over.

As per Dec08 share holding pattern of the PRIME FOCUS, Rakesh Jhunjhunwala continues to hold 2,50.000 and 6,32,500 shares in the name of Jhunjhunwala Rakesh Radheshyam and Jhunjhunwala Rekha Rakesh.

Domestic drug maker Lupin ( Part of Rakesh Jhunjhunwala holdings) announced that its US subsidiary, Lupin Pharmaceuticals, Inc. (LPI) has received the final approval for the company's Abbreviated New Drug Application (ANDA) for Levetiracetam Tablets 250mg, 500mg, 750 mg and 1000 mg from the US Food and Drug Administration (USFDA).

Commercial shipments of the product have commenced. Lupin's Levetiracetam tablets are indicated as adjunctive therapy used in the treatment of certain types of seizures associated with epilepsy.

Lupin is an innovation led transnational pharmaceutical company producing a wide range of quality, affordable generic and branded formulations and Active Pharmaceutical Ingredients (APIs) for the developed and developing markets of the world.

The Company has a significant presence in many therapeutic areas such as anti-tubercluosis, cephalosporins and in the areas of cardiovasculars (prils and statins), diabetology and asthma. The company's R&D endeavors have resulted in significant progress in its new chemical entity (NCE) program. The company's foray into New Drug Delivery Systems has resulted in the development of platform technologies that are being used to develop value-added generic pharmaceuticals.

For the financial year ended March 2008, the Lupin's Revenues and Profit after Tax were Rs.27,730 million ($694 million) and Rs.4,083 million ($102 million) respectively.

As per Dec 08 share holding pattern, Rakesh jhunjhunwala is holding 1,647,381 and 1,130,254 shares in the name of Jhunjhunwala Rakesh Radheshyam and Jhunjhunwala Rekha Rakesh respectively

Thursday, January 15, 2009

Rakesh Jhunjhunwala added 6,80,000 shares of Geometric in Dec 08 Qtr. 4,80,000 shares were added in the name of Jhunjhunwala Rakesh Radheshyam and 2,00,000 shares were added in the name of his wife, Rekha Jhunjhunwala. Now his total holding in Geometric Ltd goes up to 38,65,000 shares.

Indian construction and engineering firm Punj Lloyd Ltd ( Part of Rakesh Jhunjhunwala Holdings) won a contract worth 13.11 billion rupees ($267 million) to build infrastructure in Libya in a joint venture . The project is to be completed in 40 months.

As per Dec 08 share holding pattern of the company, there is no change in the share holding of Rakesh Jhunjhunwala in Punj Lloyd. He continues to hold 5,040,000 shares

Here is a verbatim transcript of Reema Tendulkar’s comments on Pantaloon ( Part of Rakesh Jhunjhunwala Portfolio) CNBC-TV18.

It is looking very bad. The sales have fallen for the first time, and it has, in fact, gone into negative territory. The fear is that going forward as well sales are going to decline.

If we look at the December same-store sales, which is a very important metric because it eliminates the portion that is added to sales from opening new stores, for its value segment that includes prominent stores like Food Bazaar and Big Bazaar has gone down by 4%. In its home format, it is down close to about 10%, and its lifestyle segment is down close to about 14%.

Even in all these segments, it is not the food and merchandise that has taken a hit. It is the electronics, furniture and high value international brands that have taken a hit. Therefore, it implies that consumers have cut back on their discretionary spend.

This is not surprising because their concerns are large. Consumer sentiment is extremely weak. In spite of Pantaloon announcing heavy discounts, promotional campaigns, it hasn’t boosted sales. Also, there has been immense pressure on their retail real estate. Malls aren’t being opened on time and are not achieving their required occupancy, and hence Pantaloon has cut back on its rollout plans and has, in fact, deferred it. They have a target of achieving about 4 million square feet of adding floor space in this fiscal, but they might fall short by about 1 million square feet.

The flipside is all this pressure is helping it get better rentals. But net-net the impact has been very negative. So, although the long-term India growth story may remain intact, in the short-term there is definitely a cause for worry.

Rakesh Jhunjhunwala has added 19888 shares of TITAN in the name of Jhunjhunwala Rakesh Radheshyam and 1,44,112 shares in the name of Jhunjhunwala Rekha Rakesh. Rakesh Jhunjhunwala now holds 8.37% equity if Titan Industries.

Maytas Infra, the troubled infrastructure company run by Satyam’s disgraced founder B Ramalinga Raju’s son, is in talks with two Hyderabad firms for a potential sale of projects worth thousands of crores awarded to it.

Teja Raju-led Maytas Infra is in discussions to sell its interests in the projects to privately-held Ramky Infrastructure and Nagarjuna Construction Company( Part of Rakesh Jhunjhunwala holdings), as a cloud of uncertainty hangs over its ability to raise funds following the revelation of the financial fraud at Satyam. Maytas Infra, which has orders worth over Rs 13,000 crore, needs an estimated Rs 1,200-1,300 crore in working capital for its ongoing projects.

Unlisted Ramky, which posted revenues of Rs 1,600 crore in FY08, is scrutinising the assets and liabilities of Maytas Infra and will decide on a strategy to provide financial, operational and managerial assistance within 15 days.

Maytas Infra is also talking to Nagarjuna Construction to sell stakes in projects in the hope that this would lighten the burden on its books. Nagarjuna Construction, which is partnering Maytas for building the Machlipatnam port in Andhra Pradesh as well as the airports at Shimoga and Gulbarga in Karnataka, is reviewing the beleaguered company’s efforts to raise money.

If the company (Maytas Infra) is unable to raise money for the joint venture build-operate-transfer (BOT) projects, Nagarjuna Construction might increase the stake and execute them.

Tuesday, January 13, 2009

Indage Vintners Ltd. (Part of Rakesh Jhunjhunwala holdings ) Has signed a three-year contract with the Australian major Foster to bottle their wine at its UK facility.

The contract with Foster's EEMD (East Europe and Middle East) will generate business worth Rs 6 billion (€ 92 million) over this period and our share will be about 17% of these revenues. The contract has been signed by its UK subsidiary, Indage UK.

Due to recession in the UK market, the on-trade sales (restaurants etc.) have been badly affected but people are expected to buy more wine to be drunk in the house, resulting in higher sales of bottled and bagged wines.

Indage UK had acquired the assets of Darlington Wines last May for an undisclosed amount. It imports wines under its own label and also bottles, warehouses and distributes them.

It had also purchased Norfolk, UK based winery, Broadland Wineries but as reported in delWine already, the sale fell through last week due to shortage of funds. Similarly Indage has already purchased Thachi Wines in Australia but the Loxton deal is in a state of limbo and it has been put on a hold for an uncertain period for similar reasons.

Reportedly, the bottling will be carried out by the Darlington facility.

While the Foster's group is primarily known for its beer business, it is a major player in the wine market as well. The UK alone consumes over 110 million cases of wine a year. The intense competition in the UK wine market and the recent hike in tariff are compelling companies to cut costs.

It owns many popular Australian brands including Penfolds, Lindemans, Rosemount Estates, Wolf Blass, Wynn's Coonawarra Estate. It also produces Matua in New Zealand, Riccadonna in Italy and premium brands like Stag's Leap and Chateau St. Jean in USA.

Delhi-based engineering, procurement and construction major Punj Lloyd is looking to raise close to Rs 5,000 crore by the end of this financial year. The money raised will be through a mix of debt and equity.Though the exact split in which debt and equity will be raised could not be ascertained, people in the loop said that aboutRs 1,500 crore debt will be raised from foreign lenders by the issue of foreign currency convertible bonds (FCCBs).

At this point of time, Punj Lloyd ( Part of Rakesh Jhunjhunwala holdings) promoters are not looking at divesting any stake in the company, and the equity portion of the funds will only be raised through investments at project levels.Proceeds from the funds raised will be used by the company to part finance the ongoing projects. At present, Punj Lloyd has an order backlog of about Rs 12,000 crore on a stand-alone basis. The consolidated order backlog of the Punj Lloyd group is close to Rs 22,000 crore.

As per Sep 08 share holding pattern of the company, Rakesh jhunjhunwala is holding 5,040,000 shares

Private sector Karur Vysya Bank ( Part of Rakesh Jhunjhunwala holdings ) said on Monday its board has approved raising up to 1 billion rupees through unsecured redeemable non-convertible subordinated bonds in the form of debentures or promissory notes. The issue has a greenshoe option of 1 billion rupees.

Our thesis of weak order inflow from oil and gas / petrochemical industries has played out. The company has disclosed new orders of approximately INR18.8b in 3QFY09, down 56% y-y.Additionally, international orders declined 57% y-y. We believe new orders will be weak in the next 12-month period.

We estimate a decline of 22.4% y-y for new orders in FY10. There is also further evidence of a global slowdown in the petrochemical industry.

Our FY09E and FY10E EPS estimates have declined by 9% and 41%, respectively, due to lower order inflow assumptions.

SABIC has terminated its contract with Punj Lloyd (Punj) and is seeking liquidation of the performance bond and advance payment bond for a total of GBP28.5 million.

Punj may incur additional cash charges of GBP28.5 million (Rs2.1 billion) if SABIC succeeds in its claims.

We have not included this claim in our estimates; however, we now include the provision for an Rs3 billion loss (before tax) that should have been included in the FY08 results (qualified by the auditor in FY08). This loss reduces our FY09E EPS estimate by 55%.

We have lowered our target price from Rs146 to Rs86, which implies a 25.4% downside from current levels. Our Rs86 target price is based on 9x our FY10E consolidated EPS estimate of Rs9.54. We maintain our valuation multiple.

As per Sep 08 share holding pattern of the company, Rakesh jhunjhunwala is holding 5,040,000 shares

Geojit Financial Services (GFS) ( Part of Rakesh Jhunjhunwala holdings ) recorded a net profit of Rs 38.63 crore in Q3 of the current fiscal year on account of Rs 40 crore received from BNP Paribas for discounting the commodity business. The operating result for the period under review has a loss of Rs 4.84 crore.

For the nine months ended 31st December 2008, net profit stands at Rs.50.96 crore, a company press release said. The company’s consolidated revenue for the nine month period has fallen by 17.9% (from Rs.173.67 crore to Rs.142.58 crore) and the consolidated revenue for the quarter under review has fallen by 44.84% to Rs 44.62 crore from Rs.80.89 crore.

The poor performance in Q3 was on account of a decline in revenue as well as an increase in cost due to the opening of 100 new branches during the last one year which are yet to deliver profit. The joint venture in Saudi Arabia has started pilot operations and hence the share of expenses from inception to the tune of Rs.3.7 crore is consolidated in the third quarter which again had an adverse impact on the profitability.

The company crossed the 500 branch mark during last year.

The institutional joint venture with BNP Paribas, BNP Paribas Securities India Private Limited has started acquiring market share even in the current difficult times. The joint venture is yet to finalize its accounts for the period and hence it is not consolidated in this quarter.

However, on account of its first year operations, this joint venture company has estimated a loss of Rs.9 crore for the nine month period which will be consolidated in the annual accounts.

As per shareholding pattern of the company Sep 08, Rakesh Jhunjhunwala is holding 18,000,000 shares.

Saturday, January 10, 2009

Engineering conglomerate Punj Lloyd( Part of Rakesh Jhunjhunwalaholdings)has revealed that it has pocketed two contracts worth Rs 1,154.61 crore. The company officials said that the first infrastructure and utility project priced at Rs 1,050.05 crore, has been awarded by Infrastructure Board of Tripoli, Libya, in joint venture with Public Works Company Tripoli (PWCT).

Accorded to sources, the first order is for upgrading infrastructure of Arada, which is an existing township in Tripoli, Libya. The project is slated to be finalized within a span of four-year.

Whereas, the second oil and gas contract valued Rs 104.56 crore has been bagged from Cairn Energy India Ltd. Under this project, which is scheduled to be completed within duration of seven months, the company will carry out construction of crude oil heated and insulated pipeline and a gas pipeline in a stretch of 56.52 km in section II for the Mangla Development Project, in Gujarat.

Besides laying of the pipeline, Punj Lloydwould also construct three generator heating stations to heat the crude oil and the gas.

Punj LloydGroup is proud to win new contracts, demonstrating the reputation of the group in executing unique and challenging projects not just in India but also abroad.

NagarjunaConstruction Company (NCC) ( Part of Rakesh Jhunjhunwalaholdings), a consortium partner with the Maytas Infra in the Rs 1,200-crore Machilipatnam Sea Port project, is likely to review the latter&aposs potential of raising funds.

In the back drop of rating agency ICRA downgrading the debt rating of Maytas Infra, following unfortunate developments in Satyam Computer, the consortium partners are reportedly mulling the idea to review its fund rising ability for the projects.

Maytas has 26 per cent stake in the project, while NCC has 25 per cent, SREI Infrastructure 38 per cent and the remaining 11 per cent is with a privately-owned firm.

NCC together with Maytas is partnering eight joint ventures including four road projects, two airport projects, one sea port project and an irrigation project.

The duo had also promoted two more SPVs for Shimoga and Gulbarga Airports with an estimated investment of Rs 100 crore each.

As per Bombay stock Exchange Insider Trading Disclosures onNagarjuna Construction, Rakesh Jhunjhunwalasold 10,00,000 shares on 11 Nov 08 and 2,50,000 shares on 18 Nov 08. But there is nothing to panic: even now Rakesh Jhunjhunwala will be left with 50,00,000 shares and his wife Rekha Jhunjhunwala is left with 97,50,000 shares of Nagarjuna Construction.

Sunday, January 4, 2009

Pantaloon Retail India Ltd(PRIL) ( Part of Rakesh Jhunjhunwalaholdings), the country’s leading retailer with over Rs 1000-crore turnover, has entered into domestic insurance sector by deciding to set up two companies for undertaking both life and general insurance business. The company is tying up with Italian financial major Generali, which will pick up 26 % in both the companies.

Speaking to FE, Kishore Biyani, MD, confirmed the development and said the company has decided to enter insurance business as it has some synergy with the existing line of business."We also plan to launch some credit cards and other credit products," said Mr Biyani.

The company, at its board meeting o n Tuesday, approved setting up joint ventures with The Generali Group. The proposed joint ventures are subject to the approval of Insurance Regulatory and Development Authority of India (Irda) and other approvals as may be required.Pantaloon Retail has retail presence across various segments, including food, fashion and footwear, home solutions and consumer electronics, books and music, wellness and beauty, general merchandise, telecom and IT, e-tailing, leisure and entertainment and financial products and services.

It has over 100 stores across 25 cities in the country. PRIL has secured about 10 million sq ft of retail space that will be operational by end of 2008. PRIL employs over 12,000 people and has a customer base of over 12 crores. With Pantaloon entering into insurance business the sector has further hotted up where there are already entities like Tata Group, Birlas, Anil Ambani-controlled Reliance-ADAG, Housing Development Finance Corporation (HDFC) and State Bank of India (SBI). Sunil Mittal’s Bharti and IDBI Ltd have also announced their plans to enter the sector, which was opened for private sector in 1999.

Generali, one of the largest insurance groups in the world, was established in 1831 in Triesta, Italy. Generali operates across 40 countries through 107 companies. It ranks 22 in the list of Fortune 500 companies and is the largest corporation in Italy with an asset base of over 300 billion euro.

As per Sep 08 share holding pattern of the Pantaloon company, Rakesh jhunjhunwalais holding 2,330,895 shares in the name of Jhunjhunwala Rekha Rakesh.

Thursday, January 1, 2009

Technical Analyst, E Mathew is of the view that Punj Lloyd ( Part of Rakesh Jhunjhunwalaholdings) is a great bet on decline.

Mathew told CNBC-TV18, "I would certainly put my bet on Punj Lloyd; it’s clearly stands out, as the stock to get in. I know that it is not just a cliché that it is a poor man’s L&T. But the stock pattern certainly reflects that it would be very difficult for the stock to breakdown below that Rs 125-130 zone and at the current level of Rs 145, your stoploss is so clearly defined."He further added, "It may take a little bit of time to cross that huge overhead supply around Rs 215. But a counter trend rally is something, which I am expecting in 2009. And if there is counter trend rally, which is to develop in Punj Lloyd, it could take you all the way up to Rs 276. So, I think this stock could be a great bet on declines."

Rahul Mohindar of Viratechindia is of the view that Punj Lloyd ( Part of Rakesh-Jhunjhunwalaholdings) has resistance at Rs 180-182.

Mohindar told CNBC-TV18, "In Punj Lloydwe are at very good support and downsides look limited because there has been some base building but at the same time it is kind of underperformed several other stocks. I feel over the last ten-fifteen days also if we look at that from a short-term view, it has been an underperformer and there have been no breakout signals on the chart. So technically speaking, the stock is still theoretically in a sell mode. We probably need to stay clear Rs 180-182 that is where the near-term and key resistance lies."

He further added, "Once we get pass Rs 180-182, which will take some time, we probably want to see some volume coming back and a breakout of this level to classify it into a buy stocks. So looking at the current market, if I had to look at this from a short-term to medium point of view, I would probably not go with Punj Lloyd and like to go with some of the other momentum stocks."

The shares are acquired via open market purchase in normal segment on the National Stock Exchange of India. This acquisition represents 0.01% of the equity share capital of the target company.

Prior to this acquisition, his total shareholding in the company stood at 223,525 (0.27%) equity shares, which has now gone up to 236,525 equity shares that represents 0.28% of equity share capital of the company.

The company manufactures and markets a diverse range of pharmaceutical formulations, herbal remedies and active pharmaceutical ingredient (APIs).

As per Sep 08 share holding pattern of JB Chemical, Rakesh Jhunjhunwalais holding 1,081,650 shares in the name of Jhunjhunwala Rakesh Radheshyam

DISCLAIMER

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.